Global oil supply growth plunging, with US taking biggest hit for now IEA medium - term report sees oil market rebalancing in 2017, but investment cuts pose supply security risks down the road 22 February 2016
Not exact matches
Oil at $ 80 could also slow down global oil demand growth, undermining one of the cartel and friends» key assumptions: that robust demand growth will absorb the non-OPEC supply and that demand growth will continue to be strong going forwa
Oil at $ 80 could also slow down
global oil demand growth, undermining one of the cartel and friends» key assumptions: that robust demand growth will absorb the non-OPEC supply and that demand growth will continue to be strong going forwa
oil demand
growth, undermining one of the cartel and friends» key assumptions: that robust demand
growth will absorb the non-OPEC
supply and that demand
growth will continue to be strong going forward.
A report from CIBC World Markets recently predicted the stock market might fall 10 % — 15 % this summer due to a confluence of factors, including a weak U.S. housing market, increasing fiscal strain, expensive
oil prices, sluggish corporate earnings
growth and disruptions in
global supply chains stemming from the Japanese crisis.
Global oil demand
growth has been close to 2 million barrels per day, and
supplies aren't growing anywhere close to that.
«Even though
oil stocks are fore ¬ cast to draw this year, non-OPEC
growth supply will still exceed the
growth in
global oil demand.
Global oil demand has not yet risen to offset higher
supply, but we expect sustained above - trend economic
growth globally to support
oil demand from here.
After all, the catalysts for the volatility we saw in January and February are still here: excess
supply putting pressure on
oil prices, disappointing earnings, and slowing
global growth.
The looming
supply growth is mostly due to two factors: the scheduled end of OPEC / non-OPEC production cuts in March and US shale production, including NGLs, «growing like crazy,» said New York - based Mike Wittner, managing director and
global head of
oil research at Societe Generale.
Fast forward 6 months and the
global energy market is in a state of flux with
oil prices having declined approximately 50 % due to robust and unexpected
supply growth.
Crude
oil prices edged up on Friday boosted by stronger than expected U.S. economic data though the longer - term outlook for energy markets remains weak due to a
global oil supply glut and uncertainty over economic
growth prospects in Asia.
Even if China's debt and real estate bubbles don't pop, resulting in a
global recession, slowing economic
growth from China could have a detrimental effect on long - term energy prices and result in prolonged weakness in the entire energy sector, including
oil services
suppliers such as U.S. Silica.
Beyond the impact of lifted sanctions, the slowdown in
global growth, the strength of the US shale industry and the
global glut of
oil supply (a surplus estimated at one million bpd) continue to fuel the downward spiral of the market.
According to a report by OPEC earlier this year, the increase in non-OPEC
supply last year was more than twice that of
global oil demand
growth.
A positive
supply shock that drives down the price of
oil provides a significant boost to
global growth, though we think there will also be winners and losers.
Couple this with a lack of
growth in
global supply (despite all the headlines about huge new
oil finds — much of which simply serves to replace declining production elsewhere), and you have a v supportive (& possibly explosive) price environment for
oil & gas.
The U.S. Energy Information Administration (EIA) attributed crude prices, in part, with
growth in
global supply — due in no small part to increases in U.S.
oil production.
The IEA's latest numbers show the United States is set to lead the
growth in
global oil supply over the coming five years.
November
Oil Market Report forecasts slower
growth in 4th - quarter
global demand
Supply increased in October, IEA short - term outlook finds 13 November 2012
U.S. production
growth, the main factor counterbalancing the
supply disruptions on the
global oil market, has contributed to a decrease in crude
oil price volatility since 2011.
A disruption in Middle East
oil supplies, combined with a robust upturn in
global economic
growth, could quickly transform
oil's role as an inflation suppressor into an inflation accelerator.